Author Archives: katiemonti

The Internal Revenue Service issued the 2017 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Beginning on Jan. 1, 2017, the standard mileage rates for the use … Continued

As tax filing season approaches, the Internal Revenue Service is reminding taxpayers there are things they should do now to get ready for filing season. Charitable Deductions For most taxpayers, Dec. 31 is the last day to take actions that … Continued

For tax year 2017, the Internal Revenue Service announced annual inflation adjustments for more than 50 tax provisions, including the tax rate schedules, and other tax changes. The tax items for tax year 2017 of greatest interest to most taxpayers include the following dollar amounts:

You filed your taxes and now you get a letter from the IRS. What should you do? According to the IRS your notice or letter will explain the reason for the contact and give you instructions on how to handle … Continued

All organizations are susceptible to crises, including accounting firms. Normally, when business owners think about the effects of a disaster they envision large catastrophic disasters that affect an entire region. The truth is, there are many types of disasters that … Continued

Day camps are common during the summer months. Many parents enroll their children in a day camp or pay for day care so they can work or look for work. If this applies to you, your costs may qualify for … Continued

Each year, the IRS mails millions of notices and letters to taxpayers for a variety of reasons. If you receive correspondence from the IRS: Don’t panic. You can usually deal with a notice simply by responding to it. Most IRS … Continued

You may be tempted to forget about your taxes once you’ve filed but some tax planning done now may benefit you later. Now is a good time to set up a system so you can keep your tax records safe … Continued

All income is taxable unless a law specifically says it isn’t. Here are some basic rules you should know to help you file an accurate tax return: Taxable income. Taxable income includes money you earn, like wages and tips. It … Continued